Martin Lee @ Sg
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New HDB at Cheaper Prices

It looks like Minister Khaw is doing all he can to stem the rising HDB resale prices.

HDB has offered 3356 new HDB units at prices starting from $137,000 for a three-room, $217,000 for a four-room and $274,000 for a five-room flat.

In May’s launch of 4,000 new flats, the starting prices were $166,000, $264,000 and $335,000 for the same flat types.

While the lower prices could be partly due to the location, the discount to the resale flats in their area does appear to be higher.

Will this cause people to change from buying in the resale market to balloting for new units? Or will people start to wait for new units that could be priced even lower?

Perhaps permanent residents will continue to bid up resale prices, while citizens will try their luck balloting for new ones as they can wait it out in their parents home.

Surely, this divergence in prices cannot go on forever.

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